Fingerprint Sensors Market Analysis and Forecast of Growing Demand and Adoption 2023-2028

Posted January 13, 2023 by Urmila01

The Global Fingerprint Sensors market size is estimated to reach $5,416 million by 2026, growing at a CAGR of 9.4% over the forecast period of 2021-2026.

The Global Fingerprint Sensors market size is estimated to reach $5,416 million by 2026, growing at a CAGR of 9.4% over the forecast period of 2021-2026.

Fingerprint sensors are copiously used in biometric time and attendance system, use of which is paramount in calculating employee productivity and work hours and other applications.
Biometrics is significantly used by governments across the globe in securing their data workloads and is a big player in IoT market, fueling the fingerprint sensors market.

Advantages of fingerprint sensors being, proxy logins are avoided in fingerprint sensors, while concurrently helping in tracking and analyzing employee data. Fingerprint sensors are an ideal replacement for time-clock, attendance roll and ID card, all of which are prone to faulty logins such as forgeries.

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Ascent of technology in almost every sphere of life including fingerprint sensors has enabled smartcards in biometric applications. This coupled with the now trending fingerprint sensors in smartphones have echoed the fingerprint sensors market with abundant growth. With a linear application of fingerprint sensors in the IoT based devices, thriving opportunities are present in the fingerprint sensors market.

However, data security pertaining to fingerprint sensors and daring threats and hacks to the database are market restraints.
Latest developments with facial recognition technology in smart phones are restricting growth in fingerprint sensors market. Criminal identification thwarts growth in fingerprint sensors market

Key Drivers
The fingerprint sensors market displays good growth in Asia Pacific market due to evolving consumer electronics including smartphones and tablets and rising fingerprint sensors market originating from North America and European markets. Furthermore, evolution of fingerprint sensor instilled smartcards in banking and finance sectors.

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By Technology
Ultrasonic sensors catapult the market by reading the epidermal skin layer as well as a dermal skin layer, capturing the fine details. Advances in sensing technology are expected to accelerate the ultrasonic fingerprint sensor market growth.

In terms of size, Capacitive is the governing technology in the fingerprint sensor market; this is mainly because of its low price and high consumer acceptance. Capacitive sensors are highly compact and are used in mobile and portable devices. Biometric smartcards, vehicle scanners, and smart locks are among a few of the emerging applications of capacitive fingerprint sensors, which would further provide growth opportunities for the capacitive sensor market.

Optical technology is anticipated to possess the second-largest share in the fingerprint market during the forecast period. Increasing desirability of in-display scanners from end users and the user-friendly experience have prompted OEMs to implement in-display fingerprint sensors in smartphones. Thus, the increasing acceptance by customers encourages OEMs to manufacture in-display fingerprint sensor-enabled smartphones.

By End-User
The consumer electronics application influences the market increasingly to come to terms with high growth for fingerprint sensors in the forecast period. This is mainly because of the rise in demand for these sensors in consumer devices such as smartphones, tablets, laptops, and notebooks. Consumer IoT devices are expected to provide opportunities for the market during the forecast period.

BFSI sector is expected to be the fastest-growing application during the forecast period due to the growing adoption of fingerprint sensors in smartcards used for payments.

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By Region
Asia Pacific being the most lucrative market for consumer electronics stands to witness high growth in fingerprint sensors industry. Leading players include China, India, Japan and South Korea. Currently China and South Korea are major manufacturers of smart phones being the reason for growth in fingerprint sensors market.

Key Players
Key players in the fingerprint sensors market include Goodix (China), Fingerprint Cards AB (Sweden), Synaptics (US), Apple Inc. (US), and Egis Technology (Taiwan).
Key Developments
• In Feb 2022, First smartphone launched with Fingerprints’ second-generation curved side-mounted sensor
• In Apr 2022, Touch Biometrix unveils fingerprint sensors launch plans with Series B funding round.
• In Dec 2022, Samsung’s Multi-Fingerprint Sensor Will Be 2.5 Billion Times More Secure, May Release by 2025
Fingerprint sensor market, By Technology
• Capacitive
• Optical
• Thermal
• Ultrasonic
Fingerprint sensor market, By Sensor Technology
• 2D
• 3D
Fingerprint sensor market, By Type
• Area and Touch Sensors
• Swipe Sensors
Fingerprint sensor market, By Different Materials Used (Qualitative)
• Piezoelectric Materials (Quartz)
• Pyroelectric Materials (Lithium Tantalate)
• Adhesives
• Coating Materials
Fingerprint sensor market, By Products (Qualitative)
• Authentication system in smart device
• Attendance recording system
• Access Control Systems
• Biometric system
• Digital locks
• Biometric Smartcards
• Financial card
• ID card
• Others
Fingerprint sensor market, By End-Use Application
• Consumer Electronics
• Smartphones
• Wearables
• Tables/ PC/ notebook/ Laptop
• USB flash devices
• Travel and Immigration
• Government and Law Enforcement
• Banking & Finance
• Commercial
• Automotive
• Smart Homes
• Home security
• Consumer appliances
• Healthcare
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Categories Blockchain , Software , Technology
Tags fingerprint sensors market , fingerprint sensors
Last Updated January 13, 2023